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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY FARM TYPE CROP FARM CROP FARM IRRIGATED
120 FARMS 49 FARMS
ITEM PER FARM PER FARM
1 BEEF 28,386 24,022
2 DAIRY AND MILK 471 9-
3 SHEEP 673 8
4 SWINE 6
5 POULTRY AND EGGS 3,147
6 OTHER LIVESTOCK 845- 1,709-
7 CUSTOM FEEDING 4,666 2,215
8 FEED PURCHASED 6,655- 7,852-
9 LIVESTOCK INCOME $26,697 $19,829
10 CORN 19,479 162,263
11 GRAIN SORGHUM 17,185 10,123
12 SOYBEANS 5,435 15,938
13 SUNFLOWERS 307 2,347
14 WHEAT 46,837 30,892
15 HAY AND FORAGE 5,979 34,788
16 OTHER CROP 1,241 3,416
17 GOVERNMENT PAYMENTS 34,087 39,746
18 CROP INSURANCE PROCEEDS 14,702 11,847
19 OTHER INCOME 17,106 34,067
20 VALUE OF FARM PRODUCTION $189,056 $365,254
21 HIRED LABOR 11,810 13,290
22 MACHINERY REPAIRS 20,063 25,649
23 IRRIGATION REPAIRS 1,462 8,827
24 BUILDING REPAIRS 803 1,720
25 INTEREST PAID 9,947 13,315
26 SEED-OTHER CROP EXPENSE 13,067 33,000
27 CROP INSURANCE 5,473 8,753
28 FERTILIZER-LIME 15,172 38,581
29 MACHINE HIRE 11,686 27,754
30 ORGANIZATION FEE, PUBLICATION 2,805 2,474
31 VET-MED-DRUGS 1,352 1,503
32 CROP STORAGE-MARKETING 1,079 683
33 LIVESTOCK MARKETING-BREEDING 1,085 237
34 DAIRY EXPENSE 1
35 GAS-FUEL-OIL 11,007 17,516
36 IRRIGATION ENERGY 7,477 46,104
37 REAL ESTATE TAXES 4,167 3,120
38 PERSONAL PROPERTY TAXES 897 996
39 GENERAL FARM INSURANCE 4,036 5,892
40 UTILITIES 3,365 4,117
41 CASH FARM RENT 6,254 9,770
42 HERBICIDE-INSECTICIDE 12,854 26,072
43 CONSERVATION 462 75
44 AUTO EXPENSE 738 992
45 TOTAL OPERATING EXPENSE $147,063 $290,438
46 DEPRECIATION-MACHINERY 14,852 25,009
47 DEPRECIATION-BUILDINGS 2,685 2,284
48 TOTAL FARM EXPENSE $164,601 $317,730
49 NET FARM INCOME $24,456 $47,524
50 UNPAID FAMILY LABOR 1,050 1,102
51 UNPAID OPERATOR LABOR 24,120 25,292
52 MANAGEMENT CHARGE 7,972 12,133
53 CURRENT ASSET CHARGE - 8% 7,003 4,524
54 NONCURRENT ASSET CHARGE - 8% 32,111 30,084
55 RETURN LABOR-MANAGEMENT 15,708- 11,814
56 RETURN TO CAPITAL 1,261 22,312
57 ASSET TURNOVER RATIO .2814 .5191
58 OPERATING PROFIT MARGIN RATIO .0067 .0611
59 % RETURN ON ASSETS .0019 .0317
60 % RETURN ON EQUITY .0178- .0208
61 TOTAL EXPENSE RATIO .8706 .8699
62 ADJUSTED TOTAL EXPENSE RATIO 1.0459 .9754
63 ECONOMIC TOTAL EXPENSE RATIO 1.2528 1.0701
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 161,302 161,550 174,915 180,380
65 NONCURRENT ASSETS 510,789 510,260 512,268 539,617
66 CURRENT LIABILITIES 72,728 75,060 117,366 124,833
67 NONCURRENT LIABILITIES 105,854 112,428 144,942 154,835
68 CURRENT RATIO 2.22 2.15 1.49 1.44
69 DEBT TO ASSET RATIO .27 .28 .38 .39
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY FARM TYPE CROP FARM CROP FARM IRRIGATED
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 10,453 6,320
71 MACHINERY AND EQUIPMENT 62,750 132,807
72 MOTOR VEHICLES & LISTED PROPERTY 74,944 77,811
73 BUILDINGS 27,669 23,441
74 OWNED LAND 322,990 257,577
75 TOTAL ASSETS 671,950 703,590
76 NET WORTH 488,916 432,602
LABOR
77 NUMBER OF OPERATORS .89 .93
78 NUMBER OF WORKERS 1.19 1.47
79 TOTAL WORK DAYS 223 291
80 VALUE FARM PRODUCTION/WORKER 158,096 247,202
81 NET FARM INCOME/WORKER 20,451 32,164
PER OPERATOR BASIS
82 TOTAL ASSETS 752,183 751,109
83 VALUE OF FARM PRODUCTION 211,630 389,923
84 NET FARM INCOME 27,376 50,734
OTHER FACTORS
85 % CROP ACRES IRRIGATED 7.94 62.85
86 % TILLABLE LAND 85.83 93.59
87 CROP MACH COST/TOT EXPENSE(%) 34.63 29.14
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2114 120 910 100 1506 108 1436 49 558 33 1129 46
89 NON-IRRIGATED CROP ACRES 1670 120 664 99 1320 102 611 40 274 28 466 36
90 IRRIGATED CROP ACRES 360 48 294 22 309 35 845 49 329 28 749 43
91 TOTAL CROP ACRES 1815 120 730 99 1399 104 1344 49 527 32 1065 46
92 PASTURE ACRES 563 62 379 48 429 39 238 16 117 11 281 9
93 FARMSTEAD ACRES 27 37 17 31 23 20 24 29 12 20 26 17
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1815 977 1344 1123
95 CROP MACHINERY INVESTMENT 126,995 69.99 129.99 201,292 149.80 179.28
96 CROP MACHINERY COST 56,997 31.41 58.34 92,575 68.89 82.45
97 GROSS CROP VALUE 154,297 85.04 157.93 371,178 276.22 330.58
98 CROP PRODUCTION COSTS 144,026 78.71 146.19 283,440 210.93 252.44
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 5 179
100 GRAIN SORGHUM 73 326 141 62.0 312 55.6 23 169 66 53.5 162 50.1
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 108 642 262 27.6 564 28.8 34 281 105 29.1 237 25.6
104 OTHER CROPS
105 ALFALFA 7 141 61 2.1
106 OTHER HAY & FORAGE 28 147 58 180
107 VEGETABLES
108 TRUCK CROPS
109 FRUIT - FLOWERS - TREES
IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
110 CORN 24 135 72 196.1 162 205.0 42 477 228 200.6 442 213.5
111 GRAIN SORGHUM 22 153 138 112.7 129 127.9 17 160 121 126.2 162 101.6
112 SOYBEANS 18 182 146 45.0 162 49.2 19 180 105 60.7 158 54.7
113 SUNFLOWERS 5 183 183 14.7
114 WHEAT 27 188 153 38.5 177 47.4 29 269 166 43.0 233 51.7
115 OTHER CROPS 5 167 142
116 ALFALFA 12 141 92 5.5 175 4.4 13 354 226 6.6 254 5.9
117 OTHER HAY & FORAGE 9 73 63 70 8 137 88 186
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 4 3
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 75 64
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY FARM TYPE STOCK-RANCH COW HERD CROP - COW HERD
7 FARMS 12 FARMS
ITEM PER FARM PER FARM
1 BEEF 115,557 103,140
2 DAIRY AND MILK 229
3 SHEEP 57
4 SWINE 12
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 143 344
7 CUSTOM FEEDING 1,513
8 FEED PURCHASED 15,898- 11,347-
9 LIVESTOCK INCOME $101,613 $92,137
10 CORN 8,885
11 GRAIN SORGHUM 12,837
12 SOYBEANS
13 SUNFLOWERS
14 WHEAT 8,040 41,879
15 HAY AND FORAGE 1,461 432
16 OTHER CROP 608
17 GOVERNMENT PAYMENTS 11,722 27,040
18 CROP INSURANCE PROCEEDS 4,788 7,330
19 OTHER INCOME 5,545 5,442
20 VALUE OF FARM PRODUCTION $133,168 $196,589
21 HIRED LABOR 10,470 22,047
22 MACHINERY REPAIRS 14,044 14,154
23 IRRIGATION REPAIRS 257 556
24 BUILDING REPAIRS 1,493 2,866
25 INTEREST PAID 20,027 14,137
26 SEED-OTHER CROP EXPENSE 992 5,671
27 CROP INSURANCE 907 3,600
28 FERTILIZER-LIME 5,410 12,836
29 MACHINE HIRE 3,566 13,876
30 ORGANIZATION FEE, PUBLICATION 2,860 2,085
31 VET-MED-DRUGS 3,546 2,820
32 CROP STORAGE-MARKETING 6 2,925
33 LIVESTOCK MARKETING-BREEDING 1,016 4,727
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 7,729 14,938
36 IRRIGATION ENERGY 33 1,678
37 REAL ESTATE TAXES 4,031 6,491
38 PERSONAL PROPERTY TAXES 941 789
39 GENERAL FARM INSURANCE 2,704 4,821
40 UTILITIES 3,248 4,411
41 CASH FARM RENT 6,688 15,998
42 HERBICIDE-INSECTICIDE 1,773 9,232
43 CONSERVATION 403
44 AUTO EXPENSE 1,084 725
45 TOTAL OPERATING EXPENSE $92,827 $161,785
46 DEPRECIATION-MACHINERY 9,632 15,308
47 DEPRECIATION-BUILDINGS 990 1,358
48 TOTAL FARM EXPENSE $103,450 $178,450
49 NET FARM INCOME $29,718 $18,139
50 UNPAID FAMILY LABOR 3,188
51 UNPAID OPERATOR LABOR 22,371 28,350
52 MANAGEMENT CHARGE 8,257 8,181
53 CURRENT ASSET CHARGE - 8% 12,897 17,249
54 NONCURRENT ASSET CHARGE - 8% 31,826 47,421
55 RETURN LABOR-MANAGEMENT 15,005- 49,719-
56 RETURN TO CAPITAL 19,117 7,442-
57 ASSET TURNOVER RATIO .1694 .1928
58 OPERATING PROFIT MARGIN RATIO .1436 .0379-
59 % RETURN ON ASSETS .0243 .0073-
60 % RETURN ON EQUITY .0016- .0267-
61 TOTAL EXPENSE RATIO .7768 .9077
62 ADJUSTED TOTAL EXPENSE RATIO 1.0068 1.1098
63 ECONOMIC TOTAL EXPENSE RATIO 1.3427 1.4387
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 208,661 247,120 260,201 292,336
65 NONCURRENT ASSETS 547,918 568,688 735,500 751,438
66 CURRENT LIABILITIES 69,682 63,672 54,934 66,365
67 NONCURRENT LIABILITIES 140,939 180,020 159,115 142,295
68 CURRENT RATIO 2.99 3.88 4.74 4.40
69 DEBT TO ASSET RATIO .28 .30 .21 .20
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY FARM TYPE STOCK-RANCH COW HERD CROP - COW HERD
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 144,725 125,914
71 MACHINERY AND EQUIPMENT 28,690 68,915
72 MOTOR VEHICLES & LISTED PROPERTY 58,850 61,046
73 BUILDINGS 10,550 13,519
74 OWNED LAND 456,429 577,292
75 TOTAL ASSETS 786,194 1,019,737
76 NET WORTH 559,036 808,382
LABOR
77 NUMBER OF OPERATORS .82 1.05
78 NUMBER OF WORKERS 1.25 1.54
79 TOTAL WORK DAYS 160 272
80 VALUE FARM PRODUCTION/WORKER 105,929 127,517
81 NET FARM INCOME/WORKER 23,639 11,766
PER OPERATOR BASIS
82 TOTAL ASSETS 948,854 971,178
83 VALUE OF FARM PRODUCTION 160,720 187,228
84 NET FARM INCOME 35,867 17,275
OTHER FACTORS
85 % CROP ACRES IRRIGATED 1.95 5.58
86 % TILLABLE LAND 9.59 43.71
87 CROP MACH COST/TOT EXPENSE(%) 16.97 27.94
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 3209 7 1959 6 2142 5 3567 12 1957 10 2112 11
89 NON-IRRIGATED CROP ACRES 422 5 1472 12 1044 10 722 10
90 IRRIGATED CROP ACRES 174 6 111 5
91 TOTAL CROP ACRES 431 5 1559 12 1100 10 771 10
92 PASTURE ACRES 2901 7 1828 6 1986 12 940 9 1397 11
93 FARMSTEAD ACRES
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 308 210 1559 825
95 CROP MACHINERY INVESTMENT 39,216 127.38 186.93 95,403 61.18 115.68
96 CROP MACHINERY COST 17,553 57.02 83.67 49,857 31.97 60.46
97 GROSS CROP VALUE 29,831 96.90 142.20 115,508 74.08 140.06
98 CROP PRODUCTION COSTS 33,423 108.57 159.32 109,995 70.54 133.38
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN
100 GRAIN SORGHUM 7 132 65 74.6 132 72.1
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 10 704 499 28.9 338 27.8
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 6 109 101 6 123 28 156
107 VEGETABLES
108 TRUCK CROPS
109 FRUIT - FLOWERS - TREES
IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
110 CORN 4 65
111 GRAIN SORGHUM
112 SOYBEANS
113 SUNFLOWERS
114 WHEAT
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE 4 79
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 153 90
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 14 9
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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